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Westpac agrees to pay historic $1.3bn penalty

The major bank has reached a settlement with AUSTRAC to pay a record $1.3 billion penalty for over 23 million breaches of anti-money laundering and counter-terrorism financing laws.

COVID costs dent Heritage’s bottom line

A spike in credit provisions and COVID-related charges has triggered a 16 per cent fall in Heritage Bank’s earnings, offset by asset and deposit growth.

Lender pauses lending to 90% LVR loans

A non-major lender has announced that it has temporarily ceased accepting new loan applications with loan-to-value ratios over 90 per cent ...

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